Greece is the third country in Europe, after italy and spain, to see energy security affected by Houthi attacks to tankers in the Red Sea.
At least 3 Qatari LNG cargoes have been cancelled over the last days, impacting the Greek prospects of becoming a gas hub in europe. Source: Francesco Sassi
German inflation slows to 2.9% in January from 3.7% in December, lowest level since June 2021
Core CPI slows to 3.4% in January from 3.5% in December, lowest level June 2022. Energy in deflation, hashtag#energy prices dropped -2.8% YoY, while Food CPI slowed to 3.8% from 4.5% in December. Source: HolgerZ, Bloomberg
In France, 3 out of the 4 favorite political leaders are from the far right...
1) Marine Le Pen (RN) 40%; 3) Jordan Bardella (RN) 37%; and 4) Marion Marechal Le Pen (Reconquête) 29%. Source: Le Figaro Verian - EPOKA / February poll
The "Deutsche Mag 5" -> Germany has its version of Magnificent 7 stocks
An index consisting of SAP, Siemens, Allianz, Munich Re, and Deutsche Telekom has outperformed the Dax Price Index by almost 90ppts over a 10y period. Source: HolgerZ, Bloomberg, TME
Germany has its version of Magnificent 7 stocks">
Germany has its version of Magnificent 7 stocks">
Germany's Dax closed at fresh all-time-high just as hedge fund Qube built a $1bn short bet against top German stocks
Volkswagen, Deutsche Bank, Rheinmetall, Siemens Energy, Hellofresh, and Morphosys are among those being wagered against. Source: Bloomberg
German manufacturing had been in crisis well before Russia invaded Ukraine
Putin's invasion only made this structural decline worse. Europe has an easy offset to this: a weaker currency. Euro needs to fall well below parity to offset the crisis in European manufacturing... Source: Robin Brooks
German inflation has accelerated again, at least the headline rate
CPI rose to 3.7% in December from 3.2% in November due to base effect. But Core CPI has fallen further to 3.5% in Dec from 3.8% in November. This means that core inflation is once again below headline inflation. Source: HolgerZ, Bloomberg
A remarkable chart. The sector composition probably does not explain everything
Source: Michel A.Arouet
